NZX listed retirement village and aged care operator Arvida Group Limited today announced net profit of $89.2 million for the six month period to 30 September 2022 and underlying profit of $38.9 million, up 46% on prior period performance.
This translated into a 10% increase in earnings per share.
Total gross value of occupation rights sold increased 31% to $168.2 million and resale gains were up 138% to $28.3 million.
A dividend of 2.5 cents per share has been declared for the six months, with payment to be made on 21 December.
Arvida is on track to exceed current development guidance and deliver 219 homes in the second half.
Gearing was 28% and remained at the lower end of the target range.
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